By Laura Wakely
REAL estate insiders say Caroline Springs is still hot property, despite having 1055 unsold homes on the market.
Lobby group Prosper Australia claims several growth suburbs, including Caroline Springs, Wyndham Vale, Tarneit, Truganina, Point Cook, Werribee, Craigieburn, Melton, Mernda and Doreen, have had 45,499 “stale” properties in the past five months.
Prosper Australia spokesperson David Collyer said the properties had been sitting on the market for more than 60 days after being offered in July.
“We repeat and confirm our warning to homebuyers to stand aside from buying,” Mr Collyer said.
“These figures make a mockery of claims by the property industry of a housing shortage.
“Buyers are telling sellers to ‘keep it’ as the monopoly practices that drove up prices spin out of control.”
But Raine and Horne real estate agent Kelvin Singh, who is based in Caroline Springs, said the market was “unpredictable”.
He said any homes in good condition that were under the median price of $440,000 were still being snapped up quickly.
“You just have to get the right buyer at the right time,” Mr Singh said.
“What I always say is, a good time is when you’re ready.
“If you really want to sell there’s no good or bad time to go on the market.”
Real Estate Institute of Victoria (REIV) spokesperson Robert Larocca said the belief in a house shortage came from figures provided by the National Housing Supply Council.
Mr Larocca said there were no “failed home sales”.
“A house sells only when a buyer offers a price the vendor is willing to accept,” Mr Larocca said.
“For some sellers that can happen quickly and for some it takes a bit longer.”
He said the property market was “calmer” this year in comparison to last year, but said prices had not changed by much.
“The local real estate market does have a history of moving in cycles, but right now the current balance of demand and supply is providing good opportunities to buyers.”
